In today’s marketplace, there are many gauges shareholders can use to track their holdings. A duo of the most under-the-radar are hedge fund and insider trading movement. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the top fund managers can outperform the broader indices by a superb margin (see just how much).
Equally as useful, optimistic insider trading activity is another way to look at the financial markets. Obviously, there are many stimuli for an executive to cut shares of his or her company, but just one, very simple reason why they would behave bullishly. Several academic studies have demonstrated the impressive potential of this strategy if shareholders understand where to look (learn more here).
What’s more, let’s study the latest info for Constant Contact Inc (NASDAQ:CTCT).
Hedge fund activity in Constant Contact Inc (NASDAQ:CTCT)
Heading into Q3, a total of 10 of the hedge funds we track held long positions in this stock, a change of 25% from the first quarter. With hedge funds’ positions undergoing their usual ebb and flow, there exists an “upper tier” of noteworthy hedge fund managers who were upping their stakes significantly.
When using filings from the hedgies we track, Soros Fund Management, managed by George Soros, holds the most valuable position in Constant Contact Inc (NASDAQ:CTCT). Soros Fund Management has a $12.1 million position in the stock, comprising 0.1% of its 13F portfolio. On Soros Fund Management’s heels is Jim Simons of Renaissance Technologies, with a $2.6 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Some other peers that are bullish include Israel Englander’s Millennium Management, D. E. Shaw’s D E Shaw and Glenn Russell Dubin’s Highbridge Capital Management.
Consequently, specific money managers were leading the bulls’ herd. Soros Fund Management, managed by George Soros, created the largest position in Constant Contact Inc (NASDAQ:CTCT). Soros Fund Management had 12.1 million invested in the company at the end of the quarter. Jim Simons’s Renaissance Technologies also made a $2.6 million investment in the stock during the quarter. The following funds were also among the new CTCT investors: Israel Englander’s Millennium Management, D. E. Shaw’s D E Shaw, and Glenn Russell Dubin’s Highbridge Capital Management.
What have insiders been doing with Constant Contact Inc (NASDAQ:CTCT)?
Insider buying made by high-level executives is most useful when the company in focus has experienced transactions within the past six months. Over the latest six-month time frame, Constant Contact Inc (NASDAQ:CTCT) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).
We’ll also review the relationship between both of these indicators in other stocks similar to Constant Contact Inc (NASDAQ:CTCT). These stocks are Marchex, Inc. (NASDAQ:MCHX), National CineMedia, Inc. (NASDAQ:NCMI), MDC Partners Inc. (USA) (NASDAQ:MDCA), Millennial Media, Inc. (NYSE:MM), and Harte-Hanks, Inc. (NYSE:HHS). This group of stocks are in the marketing services industry and their market caps are closest to CTCT’s market cap.
